NYS HFA and NYS AHC approve $25 million in financing and grants

Nearly $25 million in financing and grants was approved to build and preserve 333 units of affordable housing in the city. The actions were taken by the boards of the NYS Housing Finance Agency (HFA) and its subsidiary, the NYS Affordable Housing Corp. (AHC). The approvals included $18 million in financing to renovate the 125-unit Caroline Apartments in the Inwood section of Manhattan and a $2 million grant to the Housing Partnership Development Corp. to buy and renovate at least 50 foreclosed housing units in the city.